This seems pretty wtf.
What sort of precedent do they want to set? Whether or not you embrace neoliberal ideology political interference with monetary policy has not typically gone well, no matter what or whom you want to blame for that.
Am I missing something, or are they just going off the rails here?
I think it’s pretty clear interest rates aren’t exactly fixing shit because the burden isn’t falling on the cashed up folks. We can see a lot of spending by the rich during this.
But that doesn’t exactly suggest relax rates to me. In the absence of a comprehensive wealth redistribution program (☭ intensifies) I fail to see what this would really do beyond cheapen politics and set garbage precedents.
But basically all pollies have multiple houses, so expecting them to have principles might be going a bit far.